I need to know what the chocies are so i can answer your question
Answer:
$5,550
Explanation:
Preparation of an Income statement
REVENUE :
Service revenue $8,200
Less EXPENSES:
Salaries expense $1,650
Utilities expense $1,000
Total Expenses($2,650)
($1,650+$1,000)
Net income $5,550
($8,200-$2,650)
Therefore the Net income amount for the income statement will be $5,550
Answer:
Price elasticity of demand=0.48
Explanation:
The price elasticity of demand is defined as the change in demand for a particular good or service due to a change in price. The price elasticity of demand can be expressed using the mid-point formula below;
price elasticity of demand using the midpoint formula=[(Q2-Q1)/{(Q2+Q1)/2}]/(P2-P1)/{(P2+P1)/2}
where;
Q1=initial demand
Q2=final demand
P1=initial price
P2=final price
In our case;
Q1=7,070
Q2=6,565
P1=$3.003.00
P2=$3.503.30
replacing;
[(6565-7070)/{(6565+7070)/2}]/(3.503.50-3.003/{(3.503.50+3.003)/2}
(-505/6817.5)/(0.5005/3.25325)
0.074074/0.153846=-0.48141
Price elasticity of demand=0.48
